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DEPARTMENT FOR AGING AND REHABILITATIVE SERVICES AUXILIARY GRANT PROGRAM NON-SSI RESOURCE ELIGIBILITY 11/18 CHAPTER E PAGE 132 When the trust principal is a resource, its value is determined by evaluating each asset in the trust. Each asset’s countable value is determined by applying the resource policy and exclusions that are specific to the type of asset being evaluated. The total countable value of all trust assets is the countable resource value of the trust. 67.5.3.1. Excluded Resources in a Trust If an individual places an excluded resource in a trust and the trust is a countable resource, the resource exclusion can still be applied to that resource. For example, if an individual transfer’s ownership of his/her excluded home to a trust and the trust is a countable resource, the home is still subject to exclusion as home property. See Home Property Chapter E – 35. Example An applicant’s revocable trust contains $1,500 cash, a $100,000 home to which the individual intends to return and a $15,000 automobile that the individual’s household uses for transportation. The total value of the trust is $116,500. The countable value is determined by applying resource policy to each of the trust assets. The home is excluded as home property as the applicant has an equitable ownership in the property, it was his home and he intends to return to it. The automobile is exempted under the vehicle policy that permits one vehicle to be excluded for household transportation. Only the cash in the trust has a countable value, $1500. The total countable resource value of the trust is $1,500. (See Home Property Chapter E – 35 and Automobiles Chapter E - 15) 67.5.4. Relationship to Transfer Penalty Any disbursements from a revocable trust that are not made to, or for the benefit of, the individual are considered a transfer of resources. See Resource Transfers Chapter G. 67.6. Irrevocable Trusts Irrevocable trusts cannot be dissolved but may permit distributions under certain circumstances. The principal itself is not a resource but disbursements from the individual’s portion of the trust principal may be. Disbursements, payments, that can be made to or for the benefit of the individual or individual's spouse,